Kodiak Gas Services (KGS) Reports $184.5M Q4 Adjusted EBITDA, $599.7M FY2025 Operating Cash Flow

Kodiak Gas Services Inc. (NYSE:KGS) is one of the best up and coming energy stocks to buy. On February 26, Kodiak Gas Services reported financial results for 2025, highlighted by Q4 adjusted EBITDA of $184.5 million, which was a 9.1% increase over the same period in 2024. For the full year, the company generated $599.7 million in net cash from operating activities and returned over $263 million to stockholders through dividends and share repurchases.

Operationally, the company reached a fleet utilization rate of 97.7% and recorded a record adjusted gross margin of 69.2% in its Contract Services segment during Q4. This performance was driven by the continued demand for high-volume gas gathering and transmission infrastructure. In early February 2026, Kodiak announced a $675 million agreement to acquire Distributed Power Solutions/DPS, a move intended to expand its service offerings into turnkey distributed power. The acquisition is expected to close in April this year, providing a new growth vertical alongside its existing compression fleet of over 4.4 million horsepower.

Kodiak Gas Services Inc.’s (NYSE:KGS) initial 2026 guidance, which excludes the pending DPS acquisition, forecasts an adjusted EBITDA range of $750 to $780 million. The company plans to invest between $235 and $265 million in growth capital expenditures to deliver ~150,000 new unit horsepower during the year.

Kodiak Gas Services Inc. (NYSE:KGS) operates and provides contract compression infrastructure for customers in the oil and gas industry in the US. The company operates through two segments: Contract Services and Other Services.